Customer relationship management methods and systems

ABSTRACT

The present application provides computer implemented methods and corresponding computer system that perform the methods that include the step or steps of receiving a plurality of orders for an item from each of a plurality of users. The orders include various types of orders, including a first, second, and third type of orders. Order queries are thereafter received and potential counterparties are identified for the item that is the subject of the query. Potential counterparties are preferably identified based on the number of each of the various types of orders placed by the plurality or users. A listing of the identified potential counterparties may thereafter be communicated to the requesting party.

This Application claims the benefit of U.S. Provisional Application No.60/882,905, filed Dec. 30, 2006, entitled “Methods and Systems forManaging and Trading Using A Shared Order Book as Internal Exchange”,which is hereby incorporated by reference herein in its entirety.

BRIEF DESCRIPTION OF THE FIGURES

FIG. 1 illustrates a system according to at least one embodiment of thesystems disclosed herein;

FIG. 2 illustrates a method according to at least one embodiment of themethods disclosed herein; and

FIGS. 3-10 illustrate interface screens and tables for use with at leastone of the methods and systems disclosed herein.

DETAILED DESCRIPTION OF THE INVENTION

The following sections I-X provide a guide to interpreting the presentapplication.

I. Terms

The following sections I-X provide a guide to interpreting the presentapplication.

The term “product” means any machine, manufacture and/or composition ofmatter, unless expressly specified otherwise.

The term “process” means any process, algorithm, method or the like,unless expressly specified otherwise.

Each process (whether called a method, algorithm or otherwise)inherently includes one or more steps, and therefore all references to a“step” or “steps” of a process have an inherent antecedent basis in themere recitation of the term ‘process’ or a like term. Accordingly, anyreference in a claim to a ‘step’ or ‘steps’ of a process has sufficientantecedent basis.

The term “invention” and the like mean “the one or more inventionsdisclosed in this application”, unless expressly specified otherwise.

The terms “an embodiment”, “embodiment”, “embodiments”, “theembodiment”, “the embodiments”, “one or more embodiments”, “someembodiments”, “certain embodiments”, “one embodiment”, “anotherembodiment” and the like mean “one or more (but not all) embodiments ofthe disclosed invention(s)”, unless expressly specified otherwise.

The term “variation” of an invention means an embodiment of theinvention, unless expressly specified otherwise.

A reference to “another embodiment” in describing an embodiment does notimply that the referenced embodiment is mutually exclusive with anotherembodiment (e.g., an embodiment described before the referencedembodiment), unless expressly specified otherwise.

The terms “including”, “comprising” and variations thereof mean“including but not limited to”, unless expressly specified otherwise.

The terms “a”, “an” and “the” mean “one or more”, unless expresslyspecified otherwise.

The term “plurality” means “two or more”, unless expressly specifiedotherwise.

The term “herein” means “in the present application, including anythingwhich may be incorporated by reference”, unless expressly specifiedotherwise.

The phrase “at least one of”, when such phrase modifies a plurality ofthings (such as an enumerated list of things) means any combination ofone or more of those things, unless expressly specified otherwise. Forexample, the phrase “at least one of a widget, a car and a wheel” meanseither (i) a widget, (ii) a car, (iii) a wheel, (iv) a widget and a car,(v) a widget and a wheel, (vi) a car and a wheel, or (vii) a widget, acar and a wheel. The phrase “at least one of”, when such phrase modifiesa plurality of things does not mean “one of each of” the plurality ofthings.

Numerical terms such as “one”, “two”, etc. when used as cardinal numbersto indicate quantity of something (e.g., one widget, two widgets), meanthe quantity indicated by that numerical term, but do not mean at leastthe quantity indicated by that numerical term. For example, the phrase“one widget” does not mean “at least one widget”, and therefore thephrase “one widget” does not cover, e.g., two widgets.

The phrase “based on” does not mean “based only on”, unless expresslyspecified otherwise. In other words, the phrase “based on” describesboth “based only on” and “based at least on”. The phrase “based at leaston” is equivalent to the phrase “based at least in part on”.

The term “represent” and like terms are not exclusive, unless expresslyspecified otherwise. For example, the term “represents” do not mean“represents only”, unless expressly specified otherwise. In other words,the phrase “the data represents a credit card number” describes both“the data represents only a credit card number” and “the data representsa credit card number and the data also represents something else”.

The term “whereby” is used herein only to precede a clause or other setof words that express only the intended result, objective or consequenceof something that is previously and explicitly recited. Thus, when theterm “whereby” is used in a claim, the clause or other words that theterm “whereby” modifies do not establish specific further limitations ofthe claim or otherwise restricts the meaning or scope of the claim.

The term “e.g.” and like terms mean “for example”, and thus does notlimit the term or phrase it explains. For example, in the sentence “thecomputer sends data (e.g., instructions, a data structure) over theInternet”, the term “e.g.” explains that “instructions” are an exampleof “data” that the computer may send over the Internet, and alsoexplains that “a data structure” is an example of “data” that thecomputer may send over the Internet. However, both “instructions” and “adata structure” are merely examples of “data”, and other things besides“instructions” and “a data structure” can be “data”.

The term “respective” and like terms mean “taken individually”. Thus iftwo or more things have “respective” characteristics, then each suchthing has its own characteristic, and these characteristics can bedifferent from each other but need not be. For example, the phrase “eachof two machines has a respective function” means that the first suchmachine has a function and the second such machine has a function aswell. The function of the first machine may or may not be the same asthe function of the second machine.

The term “i.e.” and like terms mean “that is”, and thus limits the termor phrase it explains. For example, in the sentence “the computer sendsdata (i.e., instructions) over the Internet”, the term “i.e.” explainsthat “instructions” are the “data” that the computer sends over theInternet.

Any given numerical range shall include whole and fractions of numberswithin the range. For example, the range “1 to 10” shall be interpretedto specifically include whole numbers between 1 and 10 (e.g., 1, 2, 3,4, . . . 9) and non-whole numbers (e.g., 1.1, 1.2, . . . 1.9).

Where two or more terms or phrases are synonymous (e.g., because of anexplicit statement that the terms or phrases are synonymous), instancesof one such term/phrase does not mean instances of another suchterm/phrase must have a different meaning. For example, where astatement renders the meaning of “including” to be synonymous with“including but not limited to”, the mere usage of the phrase “includingbut not limited to” does not mean that the term “including” meanssomething other than “including but not limited to”.

II. Determining

The term “determining” and grammatical variants thereof (e.g., todetermine a price, determining a value, determine an object which meetsa certain criterion) is used in an extremely broad sense. The term“determining” encompasses a wide variety of actions and therefore“determining” can include calculating, computing, processing, deriving,investigating, looking up (e.g., looking up in a table, a database oranother data structure), ascertaining and the like. Also, “determining”can include receiving (e.g., receiving information), accessing (e.g.,accessing data in a memory) and the like. Also, “determining” caninclude resolving, selecting, choosing, establishing, and the like.

The term “determining” does not imply certainty or absolute precision,and therefore “determining” can include estimating, extrapolating,predicting, guessing and the like.

The term “determining” does not imply that mathematical processing mustbe performed, and does not imply that numerical methods must be used,and does not imply that an algorithm or process is used.

The term “determining” does not imply that any particular device must beused. For example, a computer need not necessarily perform thedetermining.

III. Forms of Sentences

Where a limitation of a first claim would cover one of a feature as wellas more than one of a feature (e.g., a limitation such as “at least onewidget” covers one widget as well as more than one widget), and where ina second claim that depends on the first claim, the second claim uses adefinite article “the” to refer to the limitation (e.g., “the widget”),this does not imply that the first claim covers only one of the feature,and this does not imply that the second claim covers only one of thefeature (e.g., “the widget” can cover both one widget and more than onewidget).

When an ordinal number (such as “first”, “second”, “third” and so on) isused as an adjective before a term, that ordinal number is used (unlessexpressly specified otherwise) merely to indicate a particular feature,such as to distinguish that particular feature from another feature thatis described by the same term or by a similar term. For example, a“first widget” may be so named merely to distinguish it from, e.g., a“second widget”. Thus, the mere usage of the ordinal numbers “first” and“second” before the term “widget” does not indicate any otherrelationship between the two widgets, and likewise does not indicate anyother characteristics of either or both widgets. For example, the mereusage of the ordinal numbers “first” and “second” before the term“widget” (1) does not indicate that either widget comes before or afterany other in order or location; (2) does not indicate that either widgetoccurs or acts before or after any other in time; and (3) does notindicate that either widget ranks above or below any other, as inimportance or quality. In addition, the mere usage of ordinal numbersdoes not define a numerical limit to the features identified with theordinal numbers. For example, the mere usage of the ordinal numbers“first” and “second” before the term “widget” does not indicate thatthere must be no more than two widgets.

When a single device, article or other product is described herein, morethan one device/article (whether or not they cooperate) mayalternatively be used in place of the single device/article that isdescribed. Accordingly, the functionality that is described as beingpossessed by a device may alternatively be possessed by more than onedevice/article (whether or not they cooperate).

Similarly, where more than one device, article or other product isdescribed herein (whether or not they cooperate), a singledevice/article may alternatively be used in place of the more than onedevice or article that is described. For example, a plurality ofcomputer-based devices may be substituted with a single computer-baseddevice. Accordingly, the various functionality that is described asbeing possessed by more than one device or article may alternatively bepossessed by a single device/article.

The functionality and/or the features of a single device that isdescribed may be alternatively embodied by one or more other deviceswhich are described but are not explicitly described as having suchfunctionality/features. Thus, other embodiments need not include thedescribed device itself, but rather can include the one or more otherdevices which would, in those other embodiments, have suchfunctionality/features.

IV. Disclosed Examples and Terminology Are Not Limiting

Neither the Title (set forth at the beginning of the first page of thepresent application) nor the Abstract (set forth at the end of thepresent application) is to be taken as limiting in any way as the scopeof the disclosed invention(s). An Abstract has been included in thisapplication merely because an Abstract of not more than 150 words isrequired under 37 C.F.R. § 1.72(b).

The title of the present application and headings of sections providedin the present application are for convenience only, and are not to betaken as limiting the disclosure in any way.

Numerous embodiments are described in the present application, and arepresented for illustrative purposes only. The described embodiments arenot, and are not intended to be, limiting in any sense. The presentlydisclosed invention(s) are widely applicable to numerous embodiments, asis readily apparent from the disclosure. One of ordinary skill in theart will recognize that the disclosed invention(s) may be practiced withvarious modifications and alterations, such as structural, logical,software, and electrical modifications. Although particular features ofthe disclosed invention(s) may be described with reference to one ormore particular embodiments and/or drawings, it should be understoodthat such features are not limited to usage in the one or moreparticular embodiments or drawings with reference to which they aredescribed, unless expressly specified otherwise.

No embodiment of method steps or product elements described in thepresent application constitutes the invention claimed herein, or isessential to the invention claimed herein, or is coextensive with theinvention claimed herein, except where it is either expressly stated tobe so in this specification or expressly recited in a claim.

The preambles of the claims that follow recite purposes, benefits andpossible uses of the claimed invention only and do not limit the claimedinvention.

The present disclosure is not a literal description of all embodimentsof the invention(s). Also, the present disclosure is not a listing offeatures of the invention(s) which must be present in all embodiments.

Devices that are described as in communication with each other need notbe in continuous communication with each other, unless expresslyspecified otherwise. On the contrary, such devices need only transmit toeach other as necessary or desirable, and may actually refrain fromexchanging data most of the time. For example, a machine incommunication with another machine via the Internet may not transmitdata to the other machine for long period of time (e.g. weeks at atime). In addition, devices that are in communication with each othermay communicate directly or indirectly through one or moreintermediaries.

A description of an embodiment with several components or features doesnot imply that all or even any of such components/features are required.On the contrary, a variety of optional components are described toillustrate the wide variety of possible embodiments of the presentinvention(s). Unless otherwise specified explicitly, nocomponent/feature is essential or required.

Although process steps, algorithms or the like may be described orclaimed in a particular sequential order, such processes may beconfigured to work in different orders. In other words, any sequence ororder of steps that may be explicitly described or claimed does notnecessarily indicate a requirement that the steps be performed in thatorder. The steps of processes described herein may be performed in anyorder possible. Further, some steps may be performed simultaneouslydespite being described or implied as occurring non-simultaneously(e.g., because one step is described after the other step). Moreover,the illustration of a process by its depiction in a drawing does notimply that the illustrated process is exclusive of other variations andmodifications thereto, does not imply that the illustrated process orany of its steps are necessary to the invention(s), and does not implythat the illustrated process is preferred.

Although a process may be described as including a plurality of steps,that does not imply that all or any of the steps are preferred,essential or required. Various other embodiments within the scope of thedescribed invention(s) include other processes that omit some or all ofthe described steps. Unless otherwise specified explicitly, no step isessential or required.

Although a process may be described singly or without reference to otherproducts or methods, in an embodiment the process may interact withother products or methods. For example, such interaction may includelinking one business model to another business model. Such interactionmay be provided to enhance the flexibility or desirability of theprocess.

Although a product may be described as including a plurality ofcomponents, aspects, qualities, characteristics and/or features, thatdoes not indicate that any or all of the plurality are preferred,essential or required. Various other embodiments within the scope of thedescribed invention(s) include other products that omit some or all ofthe described plurality.

An enumerated list of items (which may or may not be numbered) does notimply that any or all of the items are mutually exclusive, unlessexpressly specified otherwise. Likewise, an enumerated list of items(which may or may not be numbered) does not imply that any or all of theitems are comprehensive of any category, unless expressly specifiedotherwise. For example, the enumerated list “a computer, a laptop, aPDA” does not imply that any or all of the three items of that list aremutually exclusive and does not imply that any or all of the three itemsof that list are comprehensive of any category.

An enumerated list of items (which may or may not be numbered) does notimply that any or all of the items are equivalent to each other orreadily substituted for each other.

All embodiments are illustrative, and do not imply that the invention orany embodiments were made or performed, as the case may be.

V. Computing

It will be readily apparent to one of ordinary skill in the art that thevarious processes described herein may be implemented by, e.g.,appropriately programmed general purpose computers, special purposecomputers and computing devices. Typically a processor (e.g., one ormore microprocessors, one or more microcontrollers, one or more digitalsignal processors) will receive instructions (e.g., from a memory orlike device), and execute those instructions, thereby performing one ormore processes defined by those instructions. Instructions may beembodied in, e.g., one or more computer programs, one or more scripts.

A “processor” means one or more microprocessors, central processingunits (CPUs), computing devices, microcontrollers, digital signalprocessors, or like devices or any combination thereof, regardless ofthe architecture (e.g., chip-level multiprocessing/multi-core, RISC,CISC, Microprocessor without Interlocked Pipeline Stages, pipeliningconfiguration, simultaneous multithreading).

Thus a description of a process is likewise a description of anapparatus for performing the process. The apparatus that performs theprocess can include, e.g., a processor and those input devices andoutput devices that are appropriate to perform the process.

Further, programs that implement such methods (as well as other types ofdata) may be stored and transmitted using a variety of media (e.g.,computer readable media) in a number of manners. In some embodiments,hard-wired circuitry or custom hardware may be used in place of, or incombination with, some or all of the software instructions that canimplement the processes of various embodiments. Thus, variouscombinations of hardware and software may be used instead of softwareonly.

The term “computer-readable medium” refers to any medium, a plurality ofthe same, or a combination of different media, that participate inproviding data (e.g., instructions, data structures) which may be readby a computer, a processor or a like device. Such a medium may take manyforms, including but not limited to, non-volatile media, volatile media,and transmission media. Non-volatile media include, for example, opticalor magnetic disks and other persistent memory. Volatile media includedynamic random access memory (DRAM), which typically constitutes themain memory. Transmission media include coaxial cables, copper wire andfiber optics, including the wires that comprise a system bus coupled tothe processor. Transmission media may include or convey acoustic waves,light waves and electromagnetic emissions, such as those generatedduring radio frequency (RF) and infrared (IR) data communications.Common forms of computer-readable media include, for example, a floppydisk, a flexible disk, hard disk, magnetic tape, any other magneticmedium, a CD-ROM, DVD, any other optical medium, punch cards, papertape, any other physical medium with patterns of holes, a RAM, a PROM,an EPROM, a FLASH-EEPROM, any other memory chip or cartridge, a carrierwave as described hereinafter, or any other medium from which a computercan read.

Various forms of computer readable media may be involved in carryingdata (e.g. sequences of instructions) to a processor. For example, datamay be (i) delivered from RAM to a processor; (ii) carried over awireless transmission medium; (iii) formatted and/or transmittedaccording to numerous formats, standards or protocols, such as Ethernet(or IEEE 802.3), SAP, ATP, Bluetooth™, and TCP/IP, TDMA, CDMA, and 3G;and/or (iv) encrypted to ensure privacy or prevent fraud in any of avariety of ways well known in the art.

Thus a description of a process is likewise a description of acomputer-readable medium storing a program for performing the process.The computer-readable medium can store (in any appropriate format) thoseprogram elements which are appropriate to perform the method.

Just as the description of various steps in a process does not indicatethat all the described steps are required, embodiments of an apparatusinclude a computer/computing device operable to perform some (but notnecessarily all) of the described process.

Likewise, just as the description of various steps in a process does notindicate that all the described steps are required, embodiments of acomputer-readable medium storing a program or data structure include acomputer-readable medium storing a program that, when executed, cancause a processor to perform some (but not necessarily all) of thedescribed process.

Where databases are described, it will be understood by one of ordinaryskill in the art that (i) alternative database structures to thosedescribed may be readily employed, and (ii) other memory structuresbesides databases may be readily employed. Any illustrations ordescriptions of any sample databases presented herein are illustrativearrangements for stored representations of information. Any number ofother arrangements may be employed besides those suggested by, e.g.,tables illustrated in drawings or elsewhere. Similarly, any illustratedentries of the databases represent exemplary information only; one ofordinary skill in the art will understand that the number and content ofthe entries can be different from those described herein. Further,despite any depiction of the databases as tables, other formats(including relational databases, object-based models and/or distributeddatabases) could be used to store and manipulate the data typesdescribed herein. Likewise, object methods or behaviors of a databasecan be used to implement various processes, such as the describedherein. In addition, the databases may, in a known manner, be storedlocally or remotely from a device which accesses data in such adatabase.

Various embodiments can be configured to work in a network environmentincluding a computer that is in communication (e.g., via acommunications network) with one or more devices. The computer maycommunicate with the devices directly or indirectly, via any wired orwireless medium (e.g. the Internet, LAN, WAN or Ethernet, Token Ring, atelephone line, a cable line, a radio channel, an optical communicationsline, commercial on-line service providers, bulletin board systems, asatellite communications link, a combination of any of the above). Eachof the devices may themselves comprise computers or other computingdevices, such as those based on the Intel® Pentium® or Centrino™processor, that are adapted to communicate with the computer. Any numberand type of devices may be in communication with the computer

In an embodiment, a server computer or centralized authority may not benecessary or desirable. For example, the present invention may, in anembodiment, be practiced on one or more devices without a centralauthority. In such an embodiment, any functions described herein asperformed by the server computer or data described as stored on theserver computer may instead be performed by or stored on one or moresuch devices.

Where a process is described, in an embodiment the process may operatewithout any user intervention. In another embodiment, the processincludes some human intervention (e.g., a step is performed by or withthe assistance of a human).

VI. Continuing Applications

The present disclosure provides, to one of ordinary skill in the art, anenabling description of several embodiments and/or inventions. Some ofthese embodiments and/or inventions may not be claimed in the presentapplication, but may nevertheless be claimed in one or more continuingapplications that claim the benefit of priority of the presentapplication.

Applicants intend to file additional applications to pursue patents forsubject matter that has been disclosed and enabled but not claimed inthe present application.

VII. 35 U.S.C. § 112, paragraph 6

In a claim, a limitation of the claim which includes the phrase “meansfor” or the phrase “step for” means that 35 U.S.C. § 112, paragraph 6,applies to that limitation.

In a claim, a limitation of the claim which does not include the phrase“means for” or the phrase “step for” means that 35 U.S.C. § 112,paragraph 6 does not apply to that limitation, regardless of whetherthat limitation recites a function without recitation of structure,material or acts for performing that function. For example, in a claim,the mere use of the phrase “step of” or the phrase “steps of” inreferring to one or more steps of the claim or of another claim does notmean that 35 U.S.C. § 112, paragraph 6, applies to that step(s).

With respect to a means or a step for performing a specified function inaccordance with 35 U.S.C. § 112, paragraph 6, the correspondingstructure, material or acts described in the specification, andequivalents thereof, may perform additional functions as well as thespecified function.

Computers, processors, computing devices and like products arestructures that can perform a wide variety of functions. Such productscan be operable to perform a specified function by executing one or moreprograms, such as a program stored in a memory device of that product orin a memory device which that product accesses. Unless expresslyspecified otherwise, such a program need not be based on any particularalgorithm, such as any particular algorithm that might be disclosed inthe present application. It is well known to one of ordinary skill inthe art that a specified function may be implemented via differentalgorithms, and any of a number of different algorithms would be a meredesign choice for carrying out the specified function.

Therefore, with respect to a means or a step for performing a specifiedfunction in accordance with 35 U.S.C. § 112, paragraph 6, structurecorresponding to a specified function includes any product programmed toperform the specified function. Such structure includes programmedproducts which perform the function, regardless of whether such productis programmed with (i) a disclosed algorithm for performing thefunction, (ii) an algorithm that is similar to a disclosed algorithm, or(iii) a different algorithm for performing the function.

Where there is recited a means for performing a function hat is amethod, one structure for performing this method includes a computingdevice (e.g., a general purpose computer) that is programmed and/orconfigured with appropriate hardware to perform that function.

Also includes a computing device (e.g., a general purpose computer) thatis programmed and/or configured with appropriate hardware to performthat function via other algorithms as would be understood by one ofordinary skill in the art.

VIII. Disclaimer

Numerous references to a particular embodiment does not indicate adisclaimer or disavowal of additional, different embodiments, andsimilarly references to the description of embodiments which all includea particular feature does not indicate a disclaimer or disavowal ofembodiments which do not include that particular feature. A cleardisclaimer or disavowal in the present application shall be prefaced bythe phrase “does not include” or by the phrase “cannot perform”.

IX. Incorporation By Reference

Any patent, patent application or other document referred to herein isincorporated by reference into this patent application as part of thepresent disclosure, but only for purposes of written description inaccordance with 35 U.S.C. § 112, paragraph 1 and enablement inaccordance with 35 U.S.C. § 112, paragraph 1, and should in no way beused to limit, define, or otherwise construe any term of the presentapplication where the present application, without such incorporation byreference, would not have failed to provide an ascertainable meaning,but rather would have allowed an ascertainable meaning for such term tobe provided. Thus, the person of ordinary skill in the art need not havebeen in any way limited by any embodiments provided in the reference

Any incorporation by reference does not, in and of itself, imply anyendorsement of, ratification of or acquiescence in any statements,opinions, arguments or characterizations contained in any incorporatedpatent, patent application or other document, unless explicitlyspecified otherwise in this patent application.

X. Prosecution History

In interpreting the present application (which includes the claims), oneof ordinary skill in the art shall refer to the prosecution history ofthe present application, but not to the prosecution history of any otherpatent or patent application, regardless of whether there are otherpatent applications that are considered related to the presentapplication, and regardless of whether there are other patentapplications that share a claim of priority with the presentapplication.

XI. Overview of Various Embodiments

Referring to FIG. 1, a system 100 according to at least one embodimentof the systems disclosed herein includes at least one computing device,such as a remote computer 106, 108, e.g., a server computer, a clientcomputer 102, 104, or a combination thereof. The term remote in thiscontext merely means that the remote computer 106, 108 and at least oneof the client computers 102, 104 are separate devices. Thus, the devicesmay be remote even if they are located within the same room. In at leastone embodiment, the system includes at least one internal exchangecomputer 106 that is connected over a communication network 110 to oneor a plurality of internal client computers 102 and at least oneexternal exchange computer 108. The external exchange computer 108 mayfurther be connected to an external client computer 104. One or more ofthe internal client computers 102 may be connected to the internalexchange computer 106 through a firewall.

The system 100 may be implemented over any type of communicationsnetwork 110, such as a local area network (LAN), a wide area network(WAN), the Internet, a telephone network (POTS), a wireless network,including cellular, WiFi, and WiMax networks, or a combination of wiredand/or wireless networks. In certain instances, the communicationsnetwork 110 may be independent of the Internet or limited with respectto the type of the information transmitted over the Internet, such as toinformation that poses little or no security risk if misappropriated orthat has been encrypted.

In the networked embodiment, internal client computers 102 arepreferably configured or otherwise capable of transmitting and/orreceiving communications to and/or from the internal exchange computer106. This may be accomplished with a communication element, such as amodem, an Ethernet interface, a transmitter/receiver, etc., that enablescommunication with a similarly equipped internal exchange computer 106,wirelessly, wired, or a combination thereof. It is understood that therelative functionality described herein may be provided by the exchangecomputer 106, by the client computer 102, or both, and is thus notlimited to any particular one of the implementations discussed herein.In at least one embodiment, the client computers 102 will generallyprovide the front-end functionality and the internal exchange computer106 will provide the back-end functionality.

The term internal and external generally denote belonging to one of twogroups. One belongs to an internal group if one or more criteria aresatisfied that define the internal group. One belongs to the externalgroup if the one or more criteria are not satisfied. Various types ofcriteria may define the internal group, including memberships oraffiliations. Grouping may also be hardware specific as well asindividual specific. For instance, the internal group may include someor all employees of a company, members of an organization, or members ofany other collective. Similarly, the internal group may include allindividuals authorized to access the functionality of the system 100 asdescribed herein. For example, the internal group may include all equityderivative traders of a company or equity derivative traders thatsubscribe to the trading services provided by the company. Alternativelyor additionally, the internal group may include all equity derivativetraders authorized to access the backend functionality provided by theinternal exchange computer 106. Although various embodiments may bedescribed herein in relation to equity derivatives, it is understoodthat the methods and systems disclosed herein are equally applicable toother types of financial instruments as well as non-financial instrumentitems and is thus not limited thereto. The term “financial instrument”denotes any instrument, issued by a corporation, government, or anyother entity, that evinces dept or equity, and any derivative thereof,including stocks, bonds, debentures, certificates of interest ordeposit, warrants, options, futures, forwards, swaps, or generally anysecurity. The methods and systems disclosed herein may be used, forexample, in a gaming environment for finding opposing parties orteammates for game play in various networked or non-networked casino andnon-casino type games.

The computing device, e.g., the client computers 102, 104 and/or theremote computers 106, 108, generally include at least one processor, anda memory, such as ROM, RAM, FLASH, etc., or any computer readablemedium, such as a hard drive, a flash-drive, an optical or magneticdisk, etc. The memory or computer readable medium preferably includessoftware stored thereon that when executed performs one or more steps ofthe methods disclosed herein, including communicating data and commandsback and forth between the computers, displaying interface screens, etc.The computers may also be associated with or have access to one or moredatabases 114, 116 for retrieving and/or storing the various types ofdata discussed herein, including identity verification data, such as anID and password, biometric data, etc., internal and/or externaltrade/order and market data, account data, communication preferences,templates, professed interest, historic data, user preferences, etc.

The client computers 102, 104 may include, without limitation, a mobilephone, PDA, pocket PC, personal computer, as well as any special orother general purpose computing device. As such, the client computer102, 104 preferably includes a processor, a memory, a display, such as aCRT or an LCD monitor, for displaying information and/or graphicsassociated with the functionality provided by the system 100, and atleast one input device, such as a mouse, a touch-sensitive pad, apointer, a stylus, a trackball, a button or a plurality of buttons,e.g., alphanumeric, a scroll wheel, a touch-sensitive monitor, etc., ora combination thereof, for users to enter commands and/or informationrelevant to the system's functionality. With the general purpose type ofclient computer 102, 104, such as the PC or PDA, users may access thefunctionality provided by the system 100 with a browser application orany other generic application, or with special purpose software designedspecifically for accessing the functionality disclosed herein.

In at least one embodiment, the client computer 102, 104 includes or isotherwise associated with at least one biometric sensor 118. Thebiometric sensor 118 is any device that is used to determine directlyfrom the user at least one item of biometric data associated with auser, such as a fingerprint reader, an iris scanner, a retinal scanner,a vascular pattern reader, a facial recognition camera, etc. Thebiometric sensor 118 may be embodied in hardware, software, or acombination thereof. The biometric sensor 118 may further shareresources with other components of the client computer 102, 104, such asthe processor, memory, a camera, a microphone, a speaker, etc. A singlebiometric sensor 118 may be used for reading more than one type ofbiometric data. For example, a digital camera may be used to obtain animage of the user's eye for iris scanning and an image of the user'sface for facial recognition. In this instance, a single image capture ofthe user's face may provide the data for facial recognition as well asdata for iris or retinal comparisons.

The biometric data is generally obtained with the biometric sensor 118and used at least to authenticate the identity of the user as a gatewayfor allowing the user to access the system's functionality. In thisregard, biometric data may be compared with previously obtained/storedbiometric data that has preferably been verified as being associatedwith a particular user and access to the system's functionality may beprovided based on a positive match thereof.

In at least one embodiment, the system 100 provides functions relevantto trading financial instruments or other items in one or a plurality ofexchanges, such as an internal exchange, e.g., an over the counter (OTC)exchange, and an external exchange, e.g., a public exchange, an external(OTC) exchange, an electronic communication network (ECN), etc. Theinternal exchange generally includes or otherwise supports at least oneor a plurality of the internal markets. In this respect, the system 100allows users, such as traders, brokers, dealers, customers, marketmakers, etc., to access market data and submit orders to the internaland/or the external exchange using at least one client computer 102,104. The term orders as used herein includes actual orders, such asbids, offers, buys, sells, requests for quotes (RFQs), quotes, etc., andindications of interest (IOIs), etc. It is understood that a user may beacting in a principal or agency capacity. Therefore, the acts disclosedherein as being performed by a user, include acts of the principle andacts of the agent. For example, when referring to a user submitting anIOI, this includes a broker submitting an IOI for a customer as well asthe customer submitting the IOI on his own behalf.

An indication of interest (IOI) includes any expression indicating thatthe submitting party or a customer thereof is interested in an item,which generally includes any communication relating to a traded itemthat is not a quote, a buy, sell, bid, or offer. An IOI thereforespecifies at least one trading variable, such as the item name orsymbol, whether a buy side or sell interest, the size of the interest,the price, etc. IOIs differ from actual orders in that the IOI is not afirm order, just an indication of one. In certain instances, IOIs may bemissing at least one of the trading variables. For example, an IOI mayspecify an item name, symbol, or description, e.g., IBM. In thisinstance, the IOI indicates broadly that a user is interested in IBMwithout any indication whether the user is interested in buying orselling, the price, or the size of the interest. The IOI does not evenneed to identify any specific item. Rather, the IOI may identify itemsby type or any other common data item between the items. For example, auser may submit an IOI that indicates an interest to buy or sellderivatives on large cap underlyiers.

Referring to FIG. 2, in at least one embodiment, the system 100generally receives orders (internal and/or external) at 210 and storesthe orders at 212 in one or more databases to provide a shared orderbook. The system 100 may also receive and store at 214 external datarelated to orders, such as news regarding trading activity forparticular items. The system 100 may group orders for particular items,e.g., financial instruments, to create a market for each item thatincludes at least one order for the item. The system may also cause aninterface screen to be displayed, such as the market display screenshown in FIG. 3, e.g. at the client computer 102, with the relevantmarket data included therein. The market for each item may be managed orworked by users on a manual, a semi-automatic, or an automated exchange.That is, orders may be executed with the system at 216, eitherautomatically and/or manually.

Data from steps 210-216 generally provide at least a portion of theinformation for identifying potential counterparties for an order forone or more items as discussed herein. Various types of data may bemaintained in this respect, such as the item name and/or symbol, size,price, execution data and/or time, posting date and/or time,buyer/seller name and/or identification number, account numbers, ordertype, etc., for orders submitted to and for trades executed with thesystem 100, and data derived therefrom. This data, as well as other datathat may be indicative of an interest in trading particular items, maybe used to identify potential counterparties, preferably as orders arebeing entered into the system or in response to a query for suchidentification.

In at least one embodiment, the system maintains for each user, e.g.,trader, dealer, broker, etc., a record in at least one database thatincludes at least one of: the user name, contact information, a user ID,e.g., a dealer or trader ID, an internal desk ID, and one or morecommunications addresses, e.g., voice, fax, e-mail, instant message(IM), financial information eXchange (FIX) protocol, executionmanagement system (EMS), and associations with other users, traders,and/or customers. In instances where the user trades on behalf of acustomer, each customer has a record in at least one database thatincludes at least one of: the customer name, contact information, acustomer ID, and account details, e.g., firm name, address, account #s,traders/dealers associated with the customer, etc., and optionallyadditional records linked to it as sub-accounts. One or more databasesmay also be maintained that associates the users and/or customers withone or more groups or sectors. The system 100 may further store usercommunication preferences that specify the manner in which users arepresented with trading opportunities, such as by phone call, email, IM,fax, etc. The system may also maintain at least one database withorder/trade history and position data stored therein for users and/ortheir customers.

In one embodiment, internal traders, e.g., dealer/broker, have a recordin a Trader Master database with a unique trader ID, internal desk ID,and communications addresses, such as voice, fax, e-mail, IM, FIX, EMS,etc. addresses, specified, as shown in FIG. 6. Customers may also have arecord in the Customer Master database with unique customer ID andmaster account details, e.g., firm name, address, account #s, andoptionally additional records linked to it as sub-accounts, as shown inFIG. 7. Traders associated with customers may also have a record in theTrader Master database with a unique trader ID, a customer ID, e.g., forthe customer they trade for, communications addresses and preferences,e.g., voice, fax, e-mail, IM, FIX, EMS, etc., and one or more internaltrader IDs used to indicate the internal trader, e.g., dealer/broker,who covers that trader associated with a customer. Customer records inthe Customer Master database may have one or more trader records in theTrader Master linked by unique customer ID representing the customer'straders. Every private/public exchange, montage, ECN, and/or feedrepresented in the system may also have a record in the Customer Masterdatabase with a unique customer ID and master account details, and arecord in the Trader Master database with a unique trader ID,communications addresses, and preferences linked by the unique customerID to the Customer Master database/record in order to represent thesource of, e.g., an order, quote, price, trades, or any other data, froma private/public exchange's, montage's, ECN's, or feed's data.

An interest matrix may be derived that crosses the records from the oneor more of the databases discussed above. In one embodiment, theinterest matrix is maintained which crosses the Customer Master andTrader Master databases. In another or the same embodiment, the interestmatrix crosses one or both the Customer Master and Trader Masterdatabases with a Security Master database, which includes data such assector and group classifications for particular users and/or customers,professed interest in various securities, security types, sectors,groups, trade/order history, etc., as shown in FIG. 8. Thus, the system100 can access data in the interest matrix to determine or otherwiseidentify therefrom potential counterparties for, e.g., targetedmarketing, based on the professed, historical, or implied interest forthe item, e.g., the security, security type, sector, group, etc. Forexample, the system 100 may identify for a user interested in selling anitem a plurality of other users or customers that may be interested inbuying the item, e.g., based on a professed interest, historicalinterest, or on an implied interest from the other users' or customer'sorder and/or trade history. The system 100 may present to the sellinguser in this instance a list of the potential counterparties identified.The selling user may thereafter contact one or more of the identifiedpotential counterparties in an effort to sell the item. The system 100may provide this service anonymously where the identity of eachpotential counter party is not revealed to other parties. In thisinstance, communications between the parties may take place within thesystem 100 using a generic ID for each party.

The databases may be maintained with manual entries of new records andediting of existing records. That is, users, such as dealers, brokers,and traders, may add customer and potential counterparty records, whichmay include the customer's and potential counterparty communicationsaddresses. An indication may be provided specifying which communicationsaddress the customer or potential counterparty prefers to use. In oneembodiment, users also specify and associate individual securities,sectors, and/or groups with the user based on the user's interest orcoverage.

The interest matrix may also be maintained automatically with regard todata derived from order history, trade history, and user/customerpositions. That is, the system 100 may capture automatically indicative,actual, and risk interest data as a user builds and/or works an order ororders. The system 100 may also capture data from order and tradehistory, and user's position's P&L/risk ratings system tables. Datacapture may occur either in real-time or with batch processing. Thisinformation may similarly be maintained for any “customer” that is aprivate/public exchange, montage, ECN, or feed based on its reportedtrade activity. As each trader's orders and trades are captured in thesystem this information will be entered automatically.

Therefore, the system 100 can use the interest matrix to search orotherwise find liquidity for an order, and present a list of one or morepotential counterparties and private/public exchanges, montages, ECNs,feeds, etc., either in full or limited to an internal trader's coverage,based on their professed or actual interest in that order's security,sector, or group, in order of historical order or trading frequency,volume, or notional. The user may thereafter contact the potentialcounterparties, at the customer and trader level, or route orders to theappropriate private/public exchange, montage, ECN, feed, etc. The system100 may also use the interest matrix and a user's trading position tosuggest positions for a trade based on that position's P&L/risk rating.

Individual user sessions for access to the relevant functionality of thesystem 100 may begin with a user logging into the system at 218. Thatis, a user may login to place one or more orders for execution, view orotherwise access market data for one or more items, and/or query thesystem 100 for potential counterparties for one or more orders. Logingenerally entails receiving identification information from the user,such as a login ID, password, biometric data, etc., and verifyingtherewith that the user is authorized to access the relevantfunctionality of the system 100.

In at least one embodiment, the system 100 thereafter causes aninterface screen to be displayed at 220, such as the interface screensshown in FIGS. 4-5, which includes at least one form element, such as aninput field or text box, a drop down list, a check box, a radio button,an action button, a clickable image, a hyperlink, selectable text, etch,for the user to specify or otherwise identify one or more terms of anorder for at least one item. The interface screen preferably includes aplurality of form elements for the user to submit some or all of theterms for an order, such as the item name, symbol, size, price, ordertype, e.g., buy, sell, quote, IOI, etc., closing date, etc. Theinterface screen may include at least one button or other element thatwhen selected allows the user to query and/or submit an order with thespecified term or terms to the system 100. The system 100 receives at222 the one or more terms for the query and/or the order, and proceedstherefrom to determine if there are any potential counterparties for theorder at 224 based on the one or more terms submitted and also based onthe interest matrix data.

The system 100 generally identifies potential counterparties from theset or a subset of system users and/or customers based on the likelihoodthat the particular counterparty will be interested in trading the itemor items with the one or more specified terms. That is, the system 100may determine the likelihood of a successful (e.g., executed) tradebased on interest matrix data associated with particular individuals.The interest matrix data generally comprises one or a compilation ofitems of data indicative of a user's interest in an item, which mayinclude data from a professed interest for an item and/or data fromhistorical interest for an item and/or data that implies an interest inan item. In either event, interest matrix data may include items of dataderived from pending orders and non-pending orders.

Professed interest may be derived from an express indication that a userand/or a customer are generally interested in trading an item. Forexample, a user may indicate an interest in trading derivatives on aparticular underlying security, sector, or group. In this instance, thesystem 100 may identify this individual as a potential counter party forsuch derivatives. Professed interest may be specified in any one of avariety of ways in addition to the particular item or type of item,including price, strike price, volatility, delta, gamma, sector, group,index, options, futures, particular exchanges, coupon, interest or otherrates, etc, or a combination or range thereof. For example, a user mayindicate being interested in items priced between 100 and 105.Similarly, the user may indicate being interested in options havingprices between 1 and 2 and strike prices between 100 and 105. Professedinterest may be stored in a database record that is accessed by thesystem 100 for determining the user and/or customer's trading interest.

Implied interest may be derived from order history, trade history,and/or a positions, which may include pending orders awaiting executionand non-pending orders that, e.g., expired, executed, cancelled, etc. Itis understood that implied interest may be derived from any pattern oftrading behavior that would indicate whether the user has a propensityor interest to trade certain items, e.g., securities, structures,sectors, indexes, groups, options, futures, exchanges, etc.

A level of interest may also be derived from the order history, tradehistory, and/or position data, including statistical data derivedtherefrom, such as trading frequency, volume, an IOI to completed traderatio, notional, position profit and loss (P&L)/risk or credit ratings,etc. The historical data may be maintained item specific, item typespecific, etc. Therefore, the statistical data may be provided forcomparing particular items or types of items. For example, tradershaving a higher frequency of trading a particular item may be deemed tohave a higher level of interest and thus a higher probability of tradingthe item than one that trades less frequently or one that only professesan interest to trade the item. Traders having a history of trading theparticular item may also be deemed to have a higher level of interestthan ones that have not traded that particular item but have history oftrading that type of item. Moreover, traders with history with the partysubmitting an order may be deemed to have a higher priority. Interestmay also be implied based on a user position's P&L and/or risk or creditrating. That is, a user's position P&L/risk or credit rating for aparticular item may indicate wither or not the user may be interested orotherwise capable of trading the particular item. For example, thesystem may determine that a user holding an asset for greater than oneyear at a profit may be much more willing to trade the asset than a userthat has been holding the asset for a lesser period of time.

Alternatively or in addition, interest maybe implied and a level ofinterest derived therefrom from the quality or tradability of individualorders/trades. Quality or tradability may generally differ betweendifferent types of orders and at times between orders of the same type.Generally, firm orders have a greater tradability than non-firm orders.For example, bids and offers may be deemed more tradable than IOIs.Similarly, firm bids or offers that are not subject to cancellation maybe deemed to have a greater tradability than other bids and offers, andIOIs with more trading variables specified may be deemed more tradablethan IOIs with less trading variables specified. Moreover, certaintrading variables may provide greater assurance as to tradability andthus may distinguish IOIs based on the inclusion or exclusion thereof.For example, IOIs with a price may be deemed to have greater tradabilitythan IOIs with a size specified. Tradability may also be based on timeor expiration time of the IOI. That is, newer orders may be deemed tohave a greater tradability than older orders, and IOIs may be specifiedto expire after an elapsed time. For example, IOIs placed later in thetrading day may be deemed more tradable than IOIs placed earlier.Tradability may be represented on any scale, linear or otherwise. Forexample, tradability may be represented on a numerical scale, e.g., 1 to10, with larger numbers indicating better quality or tradability thansmaller numbers. 0 may be used to indicate uninterested. A sampletradability classification scheme is shown in Table A below. In thisrespect, a higher tradeability generally implies a greater interest inthe subject item.

TABLE A Score Order 10 Firm Orders 9 Bids, Offers 8 Quotes/RFQs 7 IOIsw/Name, Side, and Size 6 IOIs w/1 Variable Missing 5 IOI w/Name and Side4 IOIs w/2 Variable Missing 3 IOIs w/Name Only 2 IOIs w/3 VariableMissing 1 IOI w/No Variables

Tradability may also reflect historic data for the particular usersubmitting the order. For example, bids and offers from potentialcounterparties having a history of trading the subject item at the sizespecified in the order may be elevated to a higher level, e.g., from a 2to one. Similarly, the lack of a trading history and frequentcancellations may lower the tradability score. It is understood that anyclassification scheme may be implemented to indicate the quality ortradability of an order and is thus not limited to any one particularscheme. Additionally, factors may be applied to increase or decrease thetradeability level. For instance, a time factor may be applied todecrease the tradeability based on the timing of the order in relationto the then present time. For example, the tradeability of orders placedgreater than a week ago may be reduced by a factor of 0.9, ordersgreater than two weeks by a factor of 0.8, etc. Similarly, a userhistory factor may be applied to increase or decrease the tradeabilitylevel, e.g., to reflect previous positive and negative experiencesbetween the requesting user and the potential counterparty. For example,orders originating from potential counterparties with successful tradinghistory with the requesting user may be increased by 10% whereasunsuccessful trading history may result in a decrease of 10% or greaterbased on the severity of the prior bad experience.

The tradeability level of a plurality of individual orders may be usedto compute a composite score to rate certain types of orders. Forexample, a composite score, e.g., an average, weighted average, etc.,may be computed for all IOIs for an item in the past year or year todate based on the tradeability of individual orders within that timeperiod. A composite score may also be computed for individual potentialcounterparties for comparison against other potential counterparties. Inthis respect, the composite score may be based on a plurality of datatypes in the interest matrix. For example, a composite score for apotential counterparty may be computed based on the number of trades andthe number of bids and offers, or any other data types. Certain datatypes may have greater weight than others, e.g., based on thetradeability of the order types. For example, executed trades may have agreater weight than offers. The composite score may also be factored asdiscussed above.

The potential counterparties identified by the system 100 may bepresented to the requesting user at 226, e.g., in an interface screen,such as the interface screens shown in FIGS. 4-5, preferably in an orderindicative of the level of interest or likelihood in trading the item.As can be appreciated, the probability that a trade may result with thepotential counterparty may range from 0 to 100%. As can also beappreciated, the number of user/customers populating the interest matrixmay result in a relatively large number of potential counterparties.Accordingly, in at least one embodiment, the system 100 limits thenumber of potential counterparties communicated to the requesting userto a manageable level and/or one having a high probability of resultingin a trade. That is, the system 100 may limit the list to apredetermined number of counterparties, e.g., no more than 10.Similarly, the system 100 may limit the number to those satisfyingcertain criteria, such as having a greater than 90% probability of beinginterested or otherwise resulting in a trade. The criteria may furtherbe specific with respect to any of the professed or implied interestdata or a combination thereof. For example, the system 100 may limit thelist to those that have actually traded the desired item one or moretimes within a defined period of time. The standard may be relaxed inthat the list may be limited to those that at a minimum traded a similartype of item one or more times in the same or another defined period oftime. The list may be limited in this respect based on user specifiedcriteria stored, e.g., in a user profile. The user may similarly limitthe list of potential counterparties to those that have traded with theuser in the past.

In at least one embodiment, the user receiving the list of identifiedpotential counterparties may be provided with the ability to select oneor more of the potential counterparties for targeted communication. Forexample, the potential counterparties may be displayed in a list withcheckboxes or other form elements for the user to select one or more ofthe potential counterparties. The system 100 may receive the selectionat 228 and transmit the communication at 230 to the selected potentialcounterparty in accordance with the communication preferences of theparticular selected potential counterparty, e.g., by phone, email, IM,fax, etc. That is, when searching for liquidity on an order, the systemcan look up the potential counterparties and/or private/publicexchanges, montages, ECNs, feeds, etc. and use the trader's or potentialcounterparties' communications preferences to, e.g., present informationfor voice calls or generate/transmit via fax, e-mail, IM, FIX, or EMSpre-trade RFQ/IOI communications regarding orders. The communicationpreferences may also be used for post-trade Ad communications regardingtrades. This may be done manually for a single counterparty or batchedfor multiple counterparties. In the case of a private/public exchange,montage, ECN, feed, etc., the trading system can create and send via FIXor other electronic means, as detailed in the parties communicationspreferences, pre-trade RFCs, RFQs, IOIs, etc., and post-trade Ads/ticketprints as that private/public exchange, montage, ECN, feed, etc.supports.

The system 100 may receive responsive communications from one or more ofthe potential counterparties at 232 and communicate those to theoriginal user. The responsive communication may be an offer or quote inthe event the initial communication was an IOI or RFQ, respectively, oran acceptance in the event that the initial communication was anactionable offer, e.g., a bid, offer, etc. The original user may acceptan offer or may send a counter offer. Negotiations may continue back andforth until one of the parties to the communication accepts or opts todrop out of the negotiation.

As noted above, the system 100 may identify relevant exchanges for theorder. In this instance, the user may select the desired exchange,montage, ECN, feed, etc., for the order. The system 100 may thengenerate and send, via FIX or other electronic means, as detailed intheir communications preferences, pre-trade RFCs, RFQs, IOIs, andpost-trade Ads/ticket prints as that private/public exchange, montage,ECN, feed, etc. supports.

In instances where the original communication results in multipleresponsive communications from a plurality of potential counterparties,the system 100 may present all of the resulting communications in anorder, e.g., from best to worse. Alternatively, the system 100 maypresent the resulting communications successively in time orderfollowing the completion of any previous communication or negotiation.That is, the system may communicate a first of the plurality of theresponsive communications and hold responsive communications receivedafter the first in a queue until the negotiations between the originaluser and the potential counterparty submitting the first responsiveorder have ended. Communications resulting in a trade may be executed atstep 234 and the databases may be updated accordingly. The system mayrepeat one or more of the steps recited therein for the current user andfor other users.

Referring to FIG. 3, the market interface screen 300 generally includesrelevant market data for the item therein, such as a symbol 304, bestbid 306, best offer 308, best bid size 310, best offer size 312, as wellas prices and sizes for non-best bid and non-best offer orders. IOI typeorders may be displayed in the interface screen in accordance with theirrelevance in the hierarchy of the buy-side and offer-side of the stackrelative to the best bid and the best offer. That is, orders may besorted first based on price, followed by size and later tradeability.Therefore, IOIs that specify a price may be sorted and may appear in thestack mixed with non-IOI orders followed by IOIs that specify a size andnot a price then by IOIs that do not specify a price or a size. Ordershaving a common price and/or size may be sorted based on time receivedwith priority going to the first in time. Market data is preferablypresented in real-time. That is, the system 100 may update the orderdata to reflect real time changes in the market for the item, which mayinclude refreshing the interface screen and/resorting the data thereinperiodically, such as when orders are added or removed from the marketfor the item as electronic feeds allow.

Individual items of order data in the order book may be selectable for auser to initiation a trade. That is, users may click, e.g., doubleclick, on a price or size of their own order in the order book or of theBBO to trade at the BBO if already there. That is, clicking on theirorder converts the order to a market order which may be executed at theBBO price. When a user clicks on the BBO, the user is simply submittinga market order. When a user selects the size, their order is modified tomatch the size of the selected order. Users may also be able to click onanother order and execute a trade with the selected order.

In at least one embodiment, users may be able to grab their order andplace it in between any of the orders in the market or drop the orderinto another order. When dropped between orders, the price of the orderwill be converted to a price within the spread between the two orders.The price may be, for example, one or more ticks from the best price inthe spread, an average between the spread prices, etc. When the order isdropped into an order on the same side, the order being dropped may beconverted to match the price and/or the size of the existing order thatthe order is being dropped into. If the order is dropped into an orderon the opposite side, the order being dropped may be converted to matchthe price and/or size of the existing order and execute a tradetherewith. Matching can be either automatic, manually prompted, subjectto confirmation, or a combination thereof.

Referring to FIG. 4, an interface screen for presenting users with alist of potential counterparties according to one embodiment includestherein at least one item of market data as discussed above. The item ofmarket data may then be used to query the system 100 for potentialcounterparties for an order with the selected market data as a term forthe order. For example, selecting the BP symbol may result in a list ofall potential counterparties to the BP item. The list may appear in apop-up window with form elements therein for selecting individualpotential counterparties for targeted communications. The display mayuse formatting and/or highlighting to indicate whether there is a buyside or a sell side propensity, e.g., bold for buy and underline forsell. Alternatively, the list may be separated by buy side and sell sidepotential counterparties. Other market data may provide similar results.For example selecting a size, side, or price, on the buy side of themarket display may result in a list of potential counterparties that maybe interested in an order for the selected size, side, or price,respectively, of the BP item. The list may similarly identify buy vs.sell side propensity with highlighting or only show one side, e.g., theopposite side to the selected term. Multiple terms may be selected asshown. In one embodiment, this is done by drawing a line connectingterms, such as size and price. Particular users may also be selected inwhich instance the system 100 may display a list of items that theselected user may be interested in trading, similarly based on professedand implied interests therein. In at least one embodiment, the system100 allows users to select one or a plurality of the potentialcounterparties and display the interest matrix associated with each ofthe selected users or a portion thereof, e.g., the composite or anoverall score.

Referring to FIG. 5, an interface screen for presenting users with alist of potential counterparties according to one embodiment includestherein at least one form element for the user to specify at least oneterm of a query and/or order. The screen may include an element for theuser to specify a customer ID, the name or symbol of the item or itemtype, the type of interest, e.g., a buy, sell, bid, offer, IOI, etc.,the price, size, currency, etc. The system 100 preferably displays,e.g., in a separate window, the list of potential counterpartiesessentially immediately as the user inputs the data into the interfacescreen. For example, a user may input the BP symbol in which instancethe list of potential counterparties to PB is shown in the separatewindow. As the user inputs additional data, the system 100 may furtherrefine the list to account for the added data. Highlighting maysimilarly be used to distinguish the buy side and sell side propensityof the potential counterparties. The popup window and/or interfacescreen may include a form element, such as a button, for sending ordersto the identified/selected potential counterparties.

Referring to FIG. 9, a sample interest matrix for the BP item isdepicted. As noted above, the interest matrix may include all types ofdata that may be indicative of an interest to trade a particular item,including the number of actual trades, bids, offers, RFQs, quotes, IOIs,etc. The interest matrix may also include variables for whether or notthe user has any previous trading history with the potentialcounterparty, whether the potential counterparty has professed aninterest, etc. This type of data may be in the form of a factor that isapplied to one or more of the order types. The interest matrix may alsoinclude a composite or overall score for the item. This as well as otherdata may be used to populate the list of potential counterparties asdiscussed above.

Referring to FIG. 10, another sample matrix that is item independent isdepicted. That is, the matrix table may include interest related datafor multiple items, e.g., securities and/or sectors. In this instance,the interest matrix is across of the Customer and/or Trader Masterdatabase(s) with the Security Master database. As can be seen, theinterest matrix includes records with trader/customer specific interestdata for the specific securities and/or sectors. The matrix may alsoinclude the scores discussed above with respect to FIG. 9.

While the foregoing invention has been described in some detail forpurposes of clarity and understanding, it will be appreciated by oneskilled in the art, from a reading of the disclosure, that variouschanges in form and detail can be made without departing from the truescope of the invention.

1. A computer implemented method comprising: receiving a plurality oforders for an item from a first user, wherein the plurality of orderscomprise a number of a first type of orders and a number of a secondtype of orders; receiving a plurality of orders for the item from asecond user, wherein the plurality of orders comprises a number of thefirst type of orders and a number of a second type of orders, whereinthe number of the first type of orders from the first user exceeds thenumber of the first type of orders from the second user; receiving froma workstations associated with a third user a query for at least onepotential counterparty for an order for the item; determining inresponse to the query at least one potential counterparty for the thirdparty user's order for the item, the at least one potential counterpartycomprising at least the first user, based at least on the number of thefirst type of orders from the first user exceeding the number of thefirst type of orders from the second user; and communicating a listingcomprising the at least one potential counterparty for the third userorder.
 2. The method of claim 1, wherein the item comprises a financialinstrument.
 3. The method of claim 1, comprising: storing informationregarding the first and second user in a first database; storinginformation regarding orders for the item in a second database; andmaintaining a third database that crosses the first database and thesecond database.
 4. The method of claim 3, wherein the first databasecomprises a user name or ID, and at least one communication address foreach of the first and second users, the second database comprises a username or ID, and historic interest data for each of the first and thesecond users, and the third database comprises a user name or ID, and anumber of each of a plurality of order types derived from the historicinterest data.
 5. The method of claim 1, comprising determining a numberof the first type of orders from the first user that have been executedand determining a number of the first type of orders from the seconduser that have been executed, wherein the at least one potentialcounterparty for the third party user's order for the item is furtherdetermined based on the numbers of the first type of orders from each ofthe first user and the second user that have been executed.
 6. Themethod of claim 5, wherein the plurality of orders from the first usercomprise a number of a third type of orders and the plurality of ordersfrom the second user comprise a number of the third type of orders, andwherein the at least one potential counterparty for the third partyuser's order for the item is further determined based on the numbers ofthe second and third types of orders from each of the first user and thesecond user.
 7. The method of claim 6, comprising: determining acomposite score for the first user based on the number of the first,second, and third types of orders from the first user; and determining acomposite score for the second user based on the number of the first,second, and third types of orders from the second user, wherein the atleast one potential counterparty for the third party user's order forthe item is further determined based on the composite score of each ofthe first user and the second user.
 8. The method of claim 7, whereinthe composite scores is further determined based on the number ofexecuted orders for the item.
 9. The method of claim 7, wherein thefirst type of orders comprises at least one of bids and offers for theitem, the second type of orders comprises at least one of requests forquotes and quotes, and the third type of orders comprises indications ofinterests.
 10. The method of claim 8, wherein an indication of interestcomprises at least one trading variable less than necessary for anactual order.
 11. The method of claim 1, determining in response to thequery at least one potential counterparty for the third party user'sorder for the item, the at least one potential counterparty comprisingat least a fourth user, based at least on position data for the item ofthe fourth user.
 12. The method of claim 1, comprising causing aninterface screen to be displayed at the workstation associated with thethird user, the interface screen comprising market data regarding theitem the listing comprising the at least one potential counterparty forthe third user order.
 13. The method of claim 12, wherein the listing isdisplayed in an order based on a level of interest in trading the item.14. The method of claim 13, comprising limiting the listing to aqualified number of potential counterparties.
 15. The method of claim12, the interface screen comprising at least one form element for thethird user to select each of the at least one potential counterpartieslisted and at least one form element for the third user to communicate amessage to selected counterparties when selected.
 16. The method ofclaim 12, wherein the query is communicated with the user selecting atleast one item of market data displayed to the third user and the querycomprises the market data selected by the third user.
 17. A computerimplemented method comprising: receiving a plurality of orders for anitem from a first user, wherein the plurality of orders comprise anumber of a first type of orders, a number of a second type of orders,and a number of a third type of orders; receiving a plurality of ordersfor the item from a second user, wherein the plurality of orderscomprises a number of the first type of orders, a number of a secondtype of orders, and a third type of orders; receiving from aworkstations associated with a third user a query for at least onepotential counterparty for an order for the item; determining inresponse to the query at least one potential counterparty for the thirdparty user's order for the item, the at least one potential counterpartycomprising at least the first user, based on at least two of the numberof the first type of orders, the number of the second type of orders,and the number of the third type of orders from the first user; andcommunicating a listing comprising the at least one potentialcounterparty for the third user order.
 18. The method of claim 17,comprising determining a number of the first type of orders from thefirst user that have been executed and determining a number of the firsttype of orders from the second user that have been executed, wherein theat least one potential counterparty for the third party user's order forthe item is further determined based on the numbers of the first type oforders from each of the first user and the second user.
 19. The methodof claim 17, comprising: determining a composite score for the firstuser based on the number of the first, second, and third types of ordersfrom the first user; and determining a composite score for the seconduser based on the number of the first, second, and third types of ordersfrom the second user, wherein the at least one potential counterpartyfor the third party user's order for the item is further determinedbased on the composite score of each of the first user and the seconduser.
 20. The method of claim 17, wherein the first type of orderscomprises at least one of bids and offers for the item, the second typeof orders comprises at least one of requests for quotes and quotes, andthe third type of orders comprises indications of interests.